BankTrack News
U.S. Bank Becomes First Major Bank to Stop Financing Pipeline Construction
2017 |
BankTrack
A pair of #NoDAPL protesters dropped a banner from the rafters inside the US Bank Stadium in Minneaopolis during the Minnesota Vikings vs. Chicago Bears football game in May 2017 . Photo: Photo: Twitpic/Adam Greenberg/@pragactivist
2017 |
BankTrack
In May 2017 Bancorp subsidiary US Bank became the first major bank in the US to exclude gas and oil pipelines from project financing. The commitment does not extend to general corporate finance for builders of pipelines, although relationships with clients in the oil and gas industries will be subject to an "enhanced due diligence processes." See announcement by 350.org via EcoWatch, and response from Yes Magazine, for more details.